A pre-feasibility study prepared for the Shore Gold diamond mining company at the Star open-pit diamond mine in east-central Saskatchewan indicates that construction at the site could start in 2010. According to the study, the Star diamond mine can produce 20 million carats of diamonds valued at $5.3 billion within 12 years.

The Star diamond mine is owned by Shore Gold (40%) and Newmont Mining Corp. (60%). Shore Gold President and CEO Kenneth MacNeill stated that the pre-feasibility numbers confirm the potential for a world-class diamond mine in east-central Saskatchewan.

The pre-feasibility study includes a timeline for the project, which outlines the completion of a feasibility study of the diamond site by late February 2010 and the beginning of construction of a diamond mining facility within four years after receiving approval.

The pre-production capital costs for diamond mining company Shore Gold at the Star kimberlite diamond mine could reach $1.5 billion, while the overall capital cost during the 12 years of operation could reach $1.65 billion.